Condé Nast Owners to Sell $1.1 Billion in Warner Bros. Discovery Stock

Warner Bros. Discovery slumps after Condé Nast family offloads $1 billion in shares

The family is offloading 100 million shares at $10.97 apiece

Condé Nast Owners to Sell $1.1 Billion in Warner Bros. Discovery Stock

The Newhouse family had been the largest shareholders of the media company, and will use the cash for estate planning and other purposes.

In a filing, the Newhouse family, which owns Condé Nast, says it is selling 100M WBD shares worth around $1.1B total; WBD closes down 4%+

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Warner Bros. Discovery Investor Sells $1.1 Billion in Stock, Share Price Drops 4%

A major investor in Warner Bros. Discovery June 30 disclosed it is selling 100 million shares in the media company for $1.1 billion, or $10.97 per share. The news sent shares of the corporate parent to Warner Bros. Pictures and HBO Max down more than 4% July 1 in midmorning trading. Shareholders Advanced Newhouse Partnership … Continue reading "Warner Bros. Discovery Investor Sells $1.1 Billion in Stock, Share Price Drops 4%" The post Warner Bro…